crypto.news 2025-05-08 22:14:10

Dow gains 250 points, Bitcoin reclaims $100k after Trump promotes U.K. trade deal

Markets were flashing green on Thursday as trade tensions eased following confirmation of a trade agreement between Washington and London. The Dow Jones Industrial Average gained 254 points, or 0.62%, while the S&P 500 lagged slightly with a 0.58% gain. The Nasdaq outperformed, climbing 1.07%. Shares of Alphabet also rose after the company released a report stating its search traffic remains strong, despite earlier claims from an Apple executive that Safari search usage is declining due to rising AI adoption. Bitcoin ( BTC ) traded above the $100,000 mark for the first time since early February. Trade deal ‘in the coming weeks’ Investors were in a buying mood as U.S. President Donald Trump confirmed that a trade deal with the United Kingdom may be finalized “in the coming weeks.” The agreement—the first of its kind since the Trump administration imposed widespread tariffs on trading partners—has fueled optimism that the era of steep tariffs might be temporary. Boeing stock gained nearly 4%, boosted by news that the deal includes a $10 billion order for Boeing aircraft from London. Trump also hinted at what he described as the “biggest tax cuts in history,” predicting that the U.S. economy would “soar like a rocket ship.” U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are set to meet with their Chinese counterparts in Switzerland over the weekend to discuss trade and economic issues.